Wells Fargo Bank SBA Loan to Lumber, Plywood, Millwork, And Wood Panel Merchant Wholesalers Company
Wells Fargo Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Utah entrepreneur was able to get a loan to take a small business to the next level.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in St. George, Utah was able to borrow $542,500 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $406,875 of this Utah small business loan.
SBA Loan Borrower
COMPANY TYPE: LUMBER, PLYWOOD, MILLWORK, AND WOOD PANEL MERCHANT WHOLESALERS
ST. GEORGE, UT 84077
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
423310 - Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers
Loan Approval Date
6/16/2004
Loan Approval Gross Amount
$542,500
Loan Approval from the SBA
Of the total $542,500 loan amount, the SBA guaranteed $406,875.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 2 employees. The loan application indicated that the loan would help generate 12 new jobs and retain 2 existing jobs.
Next Steps for Getting an SBA Loan
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
This SBA loan was for $542,500. How would you spend $542,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
About This SBA Loan Information:
All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.
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